Financial Performance - In 2020, the company achieved a net profit of CNY 7,262,053,044.92, with a year-on-year increase of 2.08% compared to CNY 6,933,763,430.47 in 2019[13]. - The total operating revenue for 2020 was CNY 96,523,963,249.92, representing a 7.24% increase from CNY 90,009,132,852.26 in 2019[13]. - The net cash flow from operating activities increased by 16.51% to CNY 9,851,639,164.55, up from CNY 8,455,480,282.43 in the previous year[13]. - The company's total assets reached CNY 71,154,264,385.29 at the end of 2020, a 17.69% increase from CNY 60,461,267,016.42 at the end of 2019[13]. - The net assets attributable to shareholders of the listed company were CNY 30,383,910,257.46, reflecting a 16.28% increase from CNY 26,131,025,017.47 in 2019[13]. - The basic earnings per share for 2020 was CNY 1.17, a slight increase of 1.74% from CNY 1.15 in 2019[14]. - The company reported a weighted average return on equity of 25.18% for 2020, a decrease of 1.20 percentage points from 26.38% in 2019[14]. - The company achieved total revenue of CNY 96.886 billion, a year-on-year increase of 7.38%, and a net profit of CNY 7.099 billion, up 2.13% from the previous year[25]. - The company reported a total profit of CNY 7,632,435,404.92 for 2020, down from CNY 7,911,837,361.19 in the previous year[168]. Revenue and Sales Growth - In Q1 2020, the company's operating revenue was CNY 20.54 billion, with a net profit attributable to shareholders of CNY 1.14 billion[15]. - In Q2 2020, the operating revenue increased to CNY 26.80 billion, with a net profit attributable to shareholders of CNY 2.59 billion, marking a significant growth[15]. - Sales revenue from liquid dairy products increased by 3.20% year-on-year, while sales from milk powder and dairy products rose by 28.15%, and sales from frozen products grew by 9.35%[26]. - New product sales accounted for 16.0% of total revenue, with significant growth in the "Yili" cheese series, "Jindian" low-temperature milk, and upgraded "Jinlingguan" infant formula[21]. - The retail sales of liquid dairy products increased by 12.7% year-on-year, with organic liquid dairy sales growing by 35.1%, capturing a market share of 50.6%[21]. - The company expanded its e-commerce business, with revenue growth of 55.0% year-on-year, capturing a 28.1% market share in the ambient liquid milk segment on e-commerce platforms[28]. Market Position and Brand Recognition - The company maintained a market share of 33.3% in liquid dairy products, an increase of 0.9 percentage points compared to the previous year, and approximately 6% in infant formula, remaining stable[21]. - The company has been recognized as the most valuable brand in the food and dairy industry for eight consecutive years by BrandZ™ and was named the most valuable dairy brand globally by Brand Finance[23]. - The company maintained a brand penetration rate of 91.6% and reached nearly 1.3 billion consumers, ranking first in consumer choice in China for five consecutive years[28]. Research and Development - The total R&D investment for the period amounted to ¥487,099,849.41, representing 0.50% of the operating revenue[40]. - The company has obtained a total of 3,109 domestic and international patents, including 552 invention patents, with an increase of 37 from the previous year[24]. - The company has been conducting breast milk research for 18 years, establishing a comprehensive database to support product development tailored to Chinese infants[41]. Corporate Social Responsibility - The company invested 1,346.93 million RMB in poverty alleviation efforts during the reporting period, focusing on health, education, and social support[81]. - The company donated 470.6 million RMB worth of products to impoverished families to improve nutrition during the pandemic[81]. - The company allocated 160 million RMB for the "Yili Ark" children's safety project, benefiting approximately 100,000 students and teachers[81]. - The company was recognized as a leading enterprise in social responsibility by the People's Daily in May 2020, ranking 60th[84]. Environmental Sustainability - The company has implemented strict environmental protection measures, complying with national pollution control laws and standards, with no environmental pollution incidents reported[88]. - The company has reported a continuous COD discharge of 50.72 mg/L, which is significantly below the limit of 500 mg/L[91]. - The company achieved a cumulative reduction of 6.51 million tons of CO₂e through continuous greenhouse gas inventory efforts over 11 years[99]. - The company invested CNY 189 million in environmental protection measures, including upgrades to wastewater systems and organized emissions reduction actions[94]. Financial Management and Debt - The company’s total liabilities increased to CNY 40.62 billion in 2020, up from CNY 34.19 billion in 2019, representing an increase of approximately 18.5%[162]. - The debt-to-asset ratio increased slightly to 57.09% in 2020 from 56.54% in 2019, reflecting a marginal rise in leverage[150]. - The company issued a total of CNY 10 billion in short-term financing bonds in 2020, with interest rates ranging from 1.57% to 3.28%[152]. - The loan repayment rate was 100% for both 2020 and 2019, indicating strong repayment capabilities[150]. Governance and Compliance - The company has established four specialized committees within the board, enhancing governance and oversight[133]. - The company reported no significant internal control deficiencies during the reporting period, as confirmed by the supervisory board[141]. - The company’s independent directors did not raise any objections to company matters during the reporting period[141]. - There were no significant lawsuits or arbitration matters reported for the year[72]. Future Outlook - The company plans to achieve total revenue of 107 billion yuan and a total profit of 9.3 billion yuan in 2021[65]. - The company aims to invest 18.337 billion yuan in leading industry projects and supporting projects in 2021[66]. - The company will focus on expanding overseas markets and enhancing global brand operations[64].

Financial Performance - Net profit attributable to shareholders increased by 147.69% to CNY 2.83 billion year-on-year[5] - Operating revenue rose by 32.68% to CNY 27.26 billion compared to the same period last year[5] - Basic earnings per share increased by 147.37% to CNY 0.47 per share[5] - The company's operating revenue for Q1 2021 increased to ¥27,258,854,219.90, representing a growth of 32.68% compared to ¥20,544,425,567.09 in Q1 2020[13] - Net profit for Q1 2021 was ¥2.83 billion, compared to ¥574.81 million in Q1 2020, representing a significant increase[27] - Total operating revenue for Q1 2021 reached ¥27.36 billion, a 32.5% increase from ¥20.65 billion in Q1 2020[26] - The company reported a net profit of CNY 23.55 billion, up from CNY 20.49 billion, marking a growth of 14.9%[22] Assets and Liabilities - Total assets increased by 17.78% to CNY 83.80 billion compared to the end of the previous year[5] - The total assets of the company reached ¥83.80 billion, a significant increase from ¥71.15 billion at the end of 2020, representing a growth of 17.80%[21] - Current liabilities totaled CNY 43.05 billion, an increase of 23.5% from CNY 34.77 billion in the previous year[22] - The total liabilities amounted to CNY 49.55 billion, an increase of 22% from CNY 40.62 billion[22] - The company's total equity stood at CNY 30,532,643,923.50, showing a decrease of CNY 897,243.05[38] Cash Flow - Net cash flow from operating activities was CNY 1.12 billion, a significant recovery from a negative cash flow of CNY 2.65 billion in the previous year[5] - Cash received from sales and services increased to ¥26.74 billion, a rise of 35.56% compared to ¥19.73 billion in the same quarter last year[16] - Cash inflows from operating activities generated ¥1.12 billion, a recovery from a negative cash flow of ¥2.65 billion in Q1 2020[30] - Cash inflows from financing activities reached CNY 30.45 billion, a substantial increase from CNY 6.50 billion in Q1 2020[34] Government Support and Subsidies - The company received government subsidies amounting to CNY 325.53 million during the reporting period[7] - Cash received from other operating activities increased by 84.79% to ¥523.36 million, mainly due to an increase in government subsidies received[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 471,066[8] Investment and Research - Research and development expenses for Q1 2021 amounted to ¥103.81 million, compared to ¥83.81 million in Q1 2020, reflecting a growth of 23.9%[26] - The company plans to expand its market presence and invest in new product development to drive future growth[25] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[29]

Financial Performance - The company achieved a net profit of CNY 7,493,903,744.43 for the year 2019, with a year-on-year increase of 7.67% compared to CNY 6,439,749,610.82 in 2018[5]. - Total revenue for 2019 was CNY 90,009,132,852.26, representing a 13.97% increase from CNY 78,976,388,687.29 in 2018[21]. - The basic earnings per share for 2019 was CNY 1.15, an increase of 8.49% from CNY 1.06 in 2018[20]. - The company reported a net profit excluding non-recurring gains and losses of CNY 6,268,158,933.70, which is a 6.64% increase from CNY 5,878,050,473.25 in 2018[21]. - The company achieved total revenue of RMB 90.223 billion, a year-on-year growth of 13.41%, and net profit of RMB 6.951 billion, up by 7.73% compared to the previous year[42]. - The company's operating income for the reporting period was RMB 90.01 billion, an increase of 13.97% from the previous year[49]. - The company reported a total revenue of 79,340,536 RMB for the year 2019, reflecting a growth of 1.30% compared to the previous year[162]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 8.10 per 10 shares, totaling approximately CNY 4,913,183,654.73 based on the total share capital[5]. - The company reported a cash dividend of 7.00 RMB per 10 shares for 2018, totaling 4.254 billion RMB, with a net profit distribution ratio of 66.07%[102]. Operational Efficiency - The net cash flow from operating activities for 2019 was CNY 8,455,480,282.43, a slight decrease of 1.96% from CNY 8,624,771,799.80 in 2018[21]. - The company achieved a net cash flow from operating activities of RMB 8.46 billion for the year, indicating strong operational efficiency[24]. - The company’s total production of liquid milk was 8,758,252 tons, an increase of 8.03% year-on-year[54]. - The company’s total production of milk powder and dairy products increased by 65.76% year-on-year, primarily due to the merger with Westland Co-Operative Dairy Company Limited[54]. Market Position and Growth - The sales revenue from new product categories accounted for 19.4% of total revenue, an increase of 4.6 percentage points compared to the previous year[31]. - The revenue from key products such as "Gold Standard," "Anmuxi," and "Chuangqing" increased by 22.3% year-on-year, reflecting the effectiveness of the company's marketing strategies[31]. - The company’s liquid dairy products retail market share increased to 32.4%, up by 1.2 percentage points year-on-year, while infant formula milk powder market share rose to 6.0%, an increase of 0.4 percentage points[33]. - The company expanded its service network to nearly 1.039 million rural outlets, an increase of 8.0% year-on-year[36]. Acquisitions and Investments - The company completed the acquisition of Westland Co-Operative Dairy Company Limited, enhancing its international business presence in Southeast Asia[31]. - The company’s investment in trading financial assets increased by RMB 127.87 million, indicating a strategic focus on financial investments[26]. - The company’s investment in liquid milk projects reached CNY 1.04 billion, with a progress rate of 46.50%[84]. - The company has plans for market expansion through acquisitions and investments in new technologies and products[90]. Research and Development - The company’s R&D investment totaled ¥541.80 million, representing 0.60% of total revenue, with 411 R&D personnel[63]. - The company is focusing on product innovation in adult nutrition, cheese, and health drinks to drive healthy business growth[98]. Risk Management - The company has acknowledged potential risks in its operations and has provided a risk statement in the report[7]. - The company faces risks related to industry dynamics, financial fluctuations, and product quality, and will enhance risk management strategies accordingly[99][100]. Environmental Sustainability - The company reported a COD emission of 73.07 mg/L for intermittent discharge, well below the standard value of ≤150 mg/L, with a total discharge amount of 144.06 tons in 2019[134]. - The company has implemented real-time monitoring of wastewater discharge data in collaboration with local environmental protection departments[138]. - The company invested approximately 170 million yuan in environmental protection equipment upgrades in 2019[138]. - The company has established emergency response plans for environmental incidents and conducts regular drills to ensure effective response[140]. Corporate Governance - The company has established specialized committees within the board of directors to enhance decision-making efficiency and compliance[188]. - The company received a AAA credit rating from China Lianhe Credit Rating Co., indicating a strong ability to repay debts with low default risk[200]. - The internal control audit report issued by Da Hua Certified Public Accountants provided a standard unqualified opinion[196]. Employee Management - The total number of employees in the parent company and major subsidiaries is 59,052, with 27,519 in the parent company and 31,533 in subsidiaries[181]. - The company emphasizes a "4P" compensation philosophy based on position, performance, capability, and market, aiming to enhance employee motivation and align compensation with organizational performance[182]. - The total compensation for executives during the reporting period amounted to CNY 5,195.35 million[171].